Scarsdale Buyers Checklist

Buying a home can be stressful, time-consuming, and confusing, even when you buy a home in a picturesque town like Scarsdale. That is why it never hurts to be prepared and organized. Living in Scarsdale may be your dream, but you don’t want the process to become a nightmare. Listing all your housing requirements and responsibilities for a successful home-buying process can keep your mind focused and ensure that buying a new home goes smoothly.

1. Define your ideal lifestyle (e.g., suburban or rural).

2. Focus on a particular city, town, or geographic location.

3. Assess property taxes, common charges, etc.

4. Decide whether or not availability and proximity to public transportation is important.

5. Consider which architectural style you prefer (Colonial, Victorian, Ranch, Georgian or Contemporary).

6. Determine the number of bedrooms and baths you desire.

Look for someone with the expertise and knowledge to help you find your ideal home. Your realtor will act as your guide through the home-buying process. They help with the paperwork and point you in the direction of other experts you may need to use. They can even instruct you on Scarsdale schools, for instance, if that is a crucial requirement of your future home. They can even be an objective sounding board. A realtor will help make the home-buying process run as smoothly as possible.

In today's competitive real estate market, homebuyers are obtaining a pre-approval for mortgages prior to purchasing a home. You'll instantly gain a distinct advantage over other house hunters. Your pre-approved status tells a seller you've got the financial backing to close on the transaction. It's your position of strength that allows you to negotiate more confidently and competitively. With your pre-approval, you can close in less time than you ever imagined.

Research the neighborhood where you are hoping to buy your home. Find out if there are any plans to start building. Are they planning any new developments like a shopping center or a large apartment complex that could spoil the quiet or ambiance of the neighborhood? Make sure there is nothing planned that could depreciate the value of your new home.

Be sure that the location is ideal, not just for living, but also for easy access to places you need to get to, like work and the shops. Make sure you have access to the main roads and that traffic isn’t heavy.

Research the property before you make an offer on a home. Research the architect and builder, and find out how regarded their work is. If you are planning to buy new construction, search for red flags regarding the maintenance or any structural issues connected to the builder. Gain as much information as possible about any problems with the previous owners that might impact the home. Be sure to buy title insurance to protect yourself from any issues.

Older homes may have character appeal, but they might also require substantial repairs and upgrades. What was up to code during construction may no longer apply.

Tour the home. No matter how beautiful a house looks in photographs, you won’t get a feel for its suitability until you look it over.

Once you’ve found the home you want, put in an offer as soon as possible so that you don’t lose out to another buyer. Your agent will assist you in making the offer, which will be delivered to the seller's agent and then to the seller. Negotiations will continue until you and the seller reach an agreement on the offer.

Once you put in an offer, the home goes into escrow. Get your real estate agent to explain how this part of the transaction will proceed. In escrow, a third party oversees the exchange of money and related documents, including the buyer’s deposit and related monies and documents. They set down the instructions for the escrow and ensure there are no liens on the property. When the property transaction is complete, the escrow account is closed. The seller receives the money, and the buyer receives the keys.

It is very important to conduct a thorough inspection of your prospective home. Conduct inspections as soon as possible once your offer has been accepted. If you are purchasing a home that requires significant renovations, multiple inspections may be needed to assess the current condition of the property. Schedule the inspections when you can be present. This will allow you to become familiar with your prospective new home, evaluate its present condition, and decide what repairs will be needed.

The purchase may be contingent on the inspection findings. A buyer can pull out if there are significant issues with the home. Alternatively, it can be part of the contract that the seller has to make repairs before completion. You will also need to figure out who pays the inspector. Unless otherwise contracted, that will be the responsibility of the buyer.

Unless you buy a new construction, there could be a list of potential problems with the home you are interested in buying. It’s a good idea to list any necessary repairs or features you might need to replace or add.

Some repairs might be cosmetic, while others may require more time and money. Many homes in Scarsdale are Tudor-designed or pre-war, so they may not be up to current code. You may also want to consider how disruptive any repairs will be to you or your family.

If you plan to get a mortgage, you will require an appraisal of the home as part of the financing approval process.

Buying a home doesn’t need to be daunting if you plan and consider all the contingencies. Cindy Schwall has the expertise to advise you on any aspect of buying Scarsdale homes for sale. Contact Cindy Schwall Real Estate and get the ball rolling.